Andy Lyons/Getty Images(NEW YORK) -- Louisville head football coach Charlie Strong has told Louisville that he will remain its coach, according to sources of ESPN.

Strong has been offered a contract from the University of Tennessee that is worth $3..5 million annually, according to sources. Strong considered the offer but ultimately decided to stay at Louisville.

Louisville is reportedly working on extending Strong's five-year deal worth approximately $2.3 million a year, according to sources.

Strong has held the head coaching position at Louisville the past three seasons, compiling a 24-14 record. This season he led the Cardinals to a 10-2 record and a berth in the AllState Sugar Bowl against Florida.